27. You’re nothing!
When you are constructing your business plan and when you are actually operating the business, you should always watch what your competition is doing. Imitate their successes and avoid their mistakes.
You don’t have to wear a balaclava and spend your evenings suspended above buildings trying to break into a competitor’s office – although this could be a lot of fun… There are easier ways!
Sun Tzu teaches that if you study the enemy intimately, you will win the war. Waging war and competing in the commercial market are not dissimilar. Although you are unlikely to lose your head if you fail, it is much better to be the winner and have your enemies begging for mercy at your feet – or at least conceding some of their market share. ...